QUESTION
Does the car dealership I bought my car from have a right to the car back if they were unable to secure financing?
Asked on Feb 24th, 2014 on Litigation - Washington
More details to this question:
Even though it shows on my paperwork the name of the financial institution and my payment amount.
6 ANSWERS
Ronald A. Steinberg
If they were not paid, they are entitled to get the car back. Did you expect a gift?
Answered on Apr 22nd, 2014 at 10:54 AM
Chapter 7 Bankruptcy Attorney serving Syracuse, NY
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Andrew T. Velonis, P.C.
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Yes they do. I happen to think this is an extremely bad business practice, but it happens from time to time.
Answered on Feb 27th, 2014 at 3:55 AM
Bankruptcy Attorney serving Federal Way, WA
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Freeborn Law Offices P.S.
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Absolutely. You don't just get to keep the car without paying for it. You also don't tell me WHY financing was denied. Generally it is because the purchaser does not qualify. Could that be the case? In any event, absolutely, you must return the car.
Answered on Feb 27th, 2014 at 3:54 AM
James Edward Smith
Of course. The deal is contingent upon them getting paid.
Answered on Feb 27th, 2014 at 3:53 AM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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Yes. If you will read your contract you will see it does. It is not "they" who could not obtain financing. It is you who cannot obtain financing. They people they deal with take a lot of risky loans but they thought yours was too risky. Clean up your credit score so this wont happen for the rest of your life.
Answered on Feb 26th, 2014 at 7:10 PM
Thomas Edward Gates
Since it is not paid for and you have no means to finance he car, the car needs to be returned. Any damage can be your fault and you would have to pay for its repair.
Answered on Feb 26th, 2014 at 7:04 PM